A Nakumatt Supermarket store.[Photo/NairobiNews]
Peter Kahi has been appointed as the new Nakumatt Supermarkets administrator after the high court gave a green light.
The High Court approved the retailer’s application to appoint Kahi, an PKF Consulting East Africa partner as an administrator. Kahi has over 25 years’ experience in conducting forensic and consultancy.
Kahi has previously led teams in a number of forensic investigation Kenya, Uganda, Tanzania, Rwanda, South Sudan, Malawi and Somalia.“It is hoped and expected that the administration order if properly executed, will be beneficial to all creditors. I therefore not choose to penalise or to reward any party through an order which would see one or another party pay costs to others,” High Court Judge Justice Ochieng ruled.In October, the troubled retailer applied to the high court for an administration order in accordance with insolvency act.